Grupo ADO (NYSE: ASR) discloses 22.4% stake and new ADS buys

Rhea-AI Filing Summary

Grupo ADO and Inversiones Productivas Kierke have updated their ownership in Grupo Aeroportuario del Sureste (ASR) in Amendment No. 9 to Schedule 13D. ADO reports beneficial ownership of 67,261,970 Series B Shares, representing 22.4% of the class based on 277,050,000 Series B Shares outstanding.

Kierke reports beneficial ownership of 59,939,770 Series B Shares, or 20.0% of the class. Since Amendment No. 8, ADO purchased 331,945 American Depositary Shares, representing 7,322,200 Series B Shares, for an aggregate purchase price of approximately $102,302,502.35 using general corporate funds.

Insights

Equity ownership analyst

ADO and Kierke reaffirm large ASR stakes with additional ADS buying.

Grupo ADO now reports beneficial ownership of 67,261,970 Series B Shares, or 22.4% of Grupo Aeroportuario del Sureste’s Series B class, while Kierke reports 59,939,770 shares, or 20.0%, including shares issuable from convertible Series BB Shares.

Since the prior amendment, ADO acquired 331,945 ADSs, representing 7,322,200 Series B Shares, for about $102,302,502.35 in open-market purchases funded from general corporate resources. The filing also notes that 22,950,000 Series BB Shares held by ITA are convertible into Series B Shares on a one-for-one basis with unanimous shareholder approval.

The reporting parties state they may be deemed to share voting and dispositive power over the Series BB Shares but formally disclaim beneficial ownership beyond their pecuniary interest. Future changes in conversion decisions or additional open-market activity would be reflected in subsequent beneficial ownership updates.

Key Figures

ADO beneficial ownership: 67,261,970 Series B Shares ADO ownership percentage: 22.4% Kierke beneficial ownership: 59,939,770 Series B Shares +5 more

8 metrics

ADO beneficial ownership 67,261,970 Series B Shares Beneficially owned by Grupo ADO under Schedule 13D/A

ADO ownership percentage 22.4% Percent of Series B class based on 277,050,000 shares outstanding

Kierke beneficial ownership 59,939,770 Series B Shares Beneficially owned by Inversiones Productivas Kierke

Kierke ownership percentage 20.0% Percent of Series B class based on 277,050,000 shares outstanding

Recent ADS purchases 331,945 ADSs ADSs bought by ADO since Amendment No. 8

Underlying shares from ADS purchases 7,322,200 Series B Shares Class B (Series B) Shares represented by 331,945 ADSs

Aggregate purchase price $102,302,502.35 Total paid by ADO for 331,945 ADSs in open-market buys

Shares outstanding baseline 277,050,000 Series B Shares Issuer’s Series B Shares outstanding per Form 20-F for 2025

Key Terms

American Depositary Shares, beneficial owner, Series BB Shares, Rule 13d-3, +1 more

5 terms

American Depositary Shares financial

"American Depositary Shares ("ADS"), each representing ten Series B shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

beneficial owner financial

"ADO may be deemed, for U.S. federal securities law purposes, to be the beneficial owner of 67,261,970 Series B Shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Series BB Shares financial

"22,950,000 Series BB Shares held by ITA, which may be converted by ITA"

Rule 13d-3 regulatory

"Percentage is calculated in accordance with Rule 13d-3 of the Exchange Act"

Rule 13d-3 defines who is treated as the beneficial owner of a company’s shares for U.S. securities disclosure rules — essentially anyone who has the power to vote or direct how shares are voted, or the power to buy or sell them, even if they don’t hold the certificates. For investors this matters because crossing certain ownership thresholds triggers public filing and disclosure obligations and signals potential control or influence, much like having the keys to a car implies you can drive it even if it’s registered to someone else.

pecuniary interest financial

"The Reporting Persons disclaim beneficial ownership of the Series BB Shares held by ITA, except to the extent of their pecuniary interest therein"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

Grupo Aeroportuario del Sureste, S.A.B. de C.V.

(Name of Issuer)

American Depositary Shares, each representing ten Series B Shares

(Title of Class of Securities)

40051E202

(CUSIP Number)

Alejandro Heriberto Villarreal
Av. Ignacio Zaragoza No. 200, First Floor, Edif. B C.P.
D.F., O5, 15390
(52 55) 5133-2500

Juan Francisco Mendez
425 Lexington Avenue,
New York, NY, 10017-3954
(212) 455-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/27/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 40051E202

1

Name of reporting person

Grupo ADO, S.A. de C.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MEXICO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 44,311,970.00
8	Shared Voting Power 22,950,000.00
9	Sole Dispositive Power 44,311,970.00
10	Shared Dispositive Power 22,950,000.00

11

Aggregate amount beneficially owned by each reporting person

67,261,970.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 40051E202

1

Name of reporting person

Inversiones productivas kierke, s.a. de c.v.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MEXICO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 36,989,770.00
8	Shared Voting Power 22,950,000.00
9	Sole Dispositive Power 36,989,770.00
10	Shared Dispositive Power 22,950,000.00

11

Aggregate amount beneficially owned by each reporting person

59,939,770.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

20.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: American Depositary Shares, each representing ten Series B Shares
(b)	Name of Issuer: Grupo Aeroportuario del Sureste, S.A.B. de C.V.
(c)	Address of Issuer's Principal Executive Offices: Av. Ignacio Zaragoza No. 200, First Floor, Edif. B, C.P., D.F., MEXICO , 15390.
Item 1 Comment: This Amendment No. 9 to Schedule 13D ("Amendment No. 9") filed by the Reporting Persons (as defined below) relates to American Depositary Shares ("ADS"), each representing ten Series B shares, without par value (the "Series B Shares"), of Grupo Aeroportuario del Sureste, S.A.B. de C.V. (the "Issuer"), a corporation (sociedad anonima bursatil de capital variable) organized under the laws of Mexico, and amends the initial statement on Schedule 13D, filed by Grupo ADO, S.A. de C.V. with the Securities and Exchange Commission (the "SEC") on January 4, 2012, (the "Initial Statement"), as amended by Amendment No. 1 to Schedule 13D, filed with the SEC on January 13, 2012, as amended by Amendment No. 2 to Schedule 13D, filed with the SEC on March 12, 2012, as amended by Amendment No. 3 to Schedule 13D, filed with the SEC on November 12, 2013, as amended by Amendment No. 4 to Schedule 13D, filed with the SEC on May 1, 2015, as amended by Amendment No. 5 to Schedule 13D, on June 26, 2018, as amended by Amendment No. 6 to Schedule 13D, filed with the SEC on September 7, 2018, Amendment No. 7 to Schedule 13D, filed with the SEC on November 9, 2018 and Amendment No. 8 filed with the SEC on August 24, 2023 (together with the Initial Statement, the "Amended Schedule 13D"). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Amended Schedule 13D.
Item 2.	Identity and Background
(a)	Items 2 (a)-(c) and (f) of the Amended Schedule 13D is hereby amended and supplemented as follows: The information set forth in amended and restated Annex A hereto is incorporated by reference in this amended Item 2.
(b)	Mr. Alejandro Partido Araujo, a citizen of Mexico, is the sole director of Kierke and the Manager of ADO's Corporate Accounting Area since 2018 (the "Kierke Related Person"). The business address of the Kierke Related Person is c/o Av. Ignacio Zaragoza No. 200, First Floor, Edif. B, Col. Siete de Julio, C.P. 15390 Ciudad de Mexico. During the last five years, neither Ado, Kierke nor, to the best knowledge of the Reporting Persons, the Kierke Related Person (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(c)	See Item 2(b) above.
(d)	N/A
(e)	N/A
(f)	See row 6 of each cover page of this Amended Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Amended Schedule 13D is hereby amended by the following: The information set forth in Item 5(c) of this Amended Schedule 13D is hereby incorporated by reference in this Item 3. Since the filing of Amendment No. 8, ADO purchased in the open market, an aggregate of 331,945 ADSs representing 7,322,200 Class B Shares for an aggregate purchase price of approximately $102,302,502.35. The funds used to purchase the securities described herein were provided from general funds available to ADO and their applicable subsidiaries and affiliates thereof.
Item 5.	Interest in Securities of the Issuer
(a)	Items 5(a)-(c) of the Amended Schedule 13D are hereby amended as follows: The information contained on the cover pages to this Amended Schedule 13D and the information set forth or incorporated in Item 4 is incorporated herein by reference in this Item 5. ADO may be deemed, for U.S. federal securities law purposes, to be the beneficial owner of 67,261,970 Series B Shares consisting of: (a) 732,220 ADSs representing 7,322,200 Series B Shares held by ADO, (b) 3,698,977 ADSs representing 36,989,770 Series B Shares held by Operadora de Recursos Remer, S.A. de C.V., a subsidiary of Kierke, and (c) 22,950,000 Series BB Shares held by ITA, which may be converted by ITA, with the unanimous approval of its shareholders, into Series B Shares at any time at the ratio of one Series BB Share for one Series B Share. Kierke may be deemed, for U.S. federal securities law purposes, to be the beneficial owner of 59,939,770 Series B Shares consisting of: (a) 3,698,977 ADSs representing 36,989,770 Series B Shares held by Operadora de Recursos Remer, S.A. de C.V., a subsidiary of Kierke and (b) 22,950,000 Series BB Shares held by ITA, which may be converted by ITA, with the unanimous approval of its shareholders, into Series B Shares at any time at the ratio of one Series BB Share for one Series B Share. Kierke owns 50% of the outstanding shares of ITA, which owns all of the Series BB Shares of the Issuer, which may be converted by ITA, with the unanimous approval of its shareholders, into Series B Shares at any time at the ratio of one Series BB Share for one Series B Share, as such the Reporting Persons may be deemed to have shared voting and dispositive power over all of the Series BB Shares held by ITA. The Reporting Persons disclaim beneficial ownership of the Series BB Shares held by ITA, except to the extent of their pecuniary interest therein. Neither the filing of this Amended Schedule 13D nor any of its contents shall be deemed to constitute an admission that either Reporting Person is the beneficial owner of the Series B Shares referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose. The beneficial ownership percentage is based on 277,050,000 Series B Shares of the Issuer outstanding, as reported by the Issuer on Form 20-F for the year ended December 31, 2025, filed on April 16, 2026, and takes into account the 22,950,000 Series B Shares issuable upon conversion of the 22,950,000 Series BB Shares held by ITA. Percentage is calculated in accordance with Rule 13d-3 of the Exchange Act.
(b)	See Item 5(a) above.
(c)	Except as set forth on Schedule A of this Amended Schedule 13D, which presents information as of 4:30 p.m. Eastern on May 28, 2026, none of the Reporting Persons, or, to the best knowledge of the Reporting Persons, any other individual named in Item 2 has engaged in any transaction in any securities of the Issuer during the past 60 days.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Schedule A: 60 day trading history Exhibit 99.2 Schedule I: Directors and executive officers of Grupo ADO, S.A. de C.V

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Grupo ADO, S.A. de C.V.

Signature:	/s/ Alejandro Heriberto Hernandez Villarreal
Name/Title:	Alejandro Heriberto Hernandez Villarreal, General Counsel
Date:	05/29/2026

Inversiones productivas kierke, s.a. de c.v.

Signature:	/s/ Alejandro Partido Araujo
Name/Title:	Alejandro Partido Araujo, Sole Director
Date:	05/29/2026

FAQ

What ownership stake in ASR does Grupo ADO report in this Schedule 13D/A?

Grupo ADO reports beneficial ownership of 67,261,970 Series B Shares, representing 22.4% of the outstanding Series B class, based on 277,050,000 Series B Shares reported outstanding in Grupo Aeroportuario del Sureste’s Form 20-F for the year ended December 31, 2025.

What ownership stake in ASR does Inversiones Productivas Kierke report?

Inversiones Productivas Kierke reports beneficial ownership of 59,939,770 Series B Shares, or 20.0% of the class. This figure includes shares underlying ADSs held by a subsidiary and Series BB Shares held by ITA that are convertible into Series B Shares on a one-for-one basis.

What recent ASR share purchases did Grupo ADO disclose in Amendment No. 9?

Since Amendment No. 8, Grupo ADO purchased 331,945 American Depositary Shares, representing 7,322,200 Class B (Series B) Shares, for an aggregate purchase price of approximately $102,302,502.35. These open-market purchases were funded from general funds available to ADO and its subsidiaries and affiliates.

How are American Depositary Shares (ADSs) related to ASR’s Series B Shares?

Each American Depositary Share of Grupo Aeroportuario del Sureste represents ten Series B Shares. The filing states that ADO’s and Kierke’s holdings include ADS positions which are translated into underlying Series B Shares when calculating their total beneficial ownership percentages for Schedule 13D reporting.

What are ASR’s Series BB Shares and how can they affect ownership?

The filing explains that ITA holds 22,950,000 Series BB Shares, which may be converted into the same number of Series B Shares at any time, with unanimous approval of ITA’s shareholders. These convertible shares are included when calculating ADO’s and Kierke’s reported beneficial ownership under Rule 13d-3.

When did the event triggering this ASR Schedule 13D/A amendment occur?

The date of the event requiring this Schedule 13D/A Amendment No. 9 is listed as May 27, 2026. This date anchors the updated beneficial ownership information and reflects the point at which the reported changes in ADO’s and Kierke’s ASR holdings became reportable.